RBI Closes Sale of Raiffeisen Banka in Slovenia

Published: July 1, 2016; 17:00 · (FriedlNews)

Following the completion of all regulatory requirements, Raiffeisen Bank International AG (RBI) formally closed the sale of its Slovenian bank, Raiffeisen Banka d.d. The sales price will be kept confidential.

The sale agreement, which was initially signed in December 2015, constituted one of the announced steps in the implementation of RBI’s transformation program (initiated in February 2015).

The buyer is Biser Bidco, which is owned by Apollo Global Management and the EBRD.

It was agreed that the sales price would be kept confidential.

The expected deconsolidation effect on RBI’s consolidated result will amount to about minus EUR 53 million which has already been recognized in the fourth quarter of 2015 and in the first quarter 2016.

With the closing of the transaction, RBI’s risk-weighted assets are expected to be reduced by approx. EUR 218 million (based on Q1 2016 figures). The Slovenian Raiffeisen Leasing d.o.o. (RWA 31.03.2016: approx. EUR 100 million) is not included in the transaction.

At the closing it will have a slightly positive effect on RBI’s CET1 ratio (fully loaded) due to the fact that the loss of transaction has already been recognized in 2015.